Document Actions
Collateral
Collateral is personal property that is subject to a security interest.
Collateral types
Each item of collateral may be described by one or more collateral type. There are a total of 13 different collateral types to choose from.
A standard screen format is used for each of the following collateral types, i.e. a single text box:
- Goods – Livestock (e.g. livestock: cows, sheep, ostriches)
- Goods – Crops (e.g. crops: pip fruit crop, grape production, wheat production)
- Documents of Title (e.g. bills of lading, warehouse receipts)
- Chattel Paper (e.g. hire purchase agreements)
- Investment Securities (e.g. shares, options)
- Negotiable instruments (e.g. a promissory note, a letter of credit)
- Money (e.g. NZ dollars, Japanese yen, bank deposit of $NZ8 million lodged with a bank)
- Intangibles (e.g. trademarks, patents and copyright, accounts receivable)
- All Present and After Acquired Personal Property
For each of these collateral types you will see an ‘Expand’ button beside the ‘Description’ field. For a larger field choose the ‘Expand’ option. The description field can hold up to 4000 characters of text, but you cannot insert images. When using the expanded description box click on the ‘Return’ button to go back to the ‘Collateral Details’ screen.
The system uses more specific screen formats for the following collateral types:
- Goods – Other and All Present and After Acquired Personal Property Except
- Goods - Motor Vehicles, e.g. a car, motor cycle
- Goods - Aircraft, e.g. aircraft: a helicopter, aeroplane, glider
Specific fields for describing motor vehicles
Enter the following mandatory fields and any other relevant information:
- Make
- Model
- Year (of manufacture)
You must complete at least one of the three following fields: VIN, chassis number or registration number. Wherever possible, enter details in all fields. The item description is optional but can be useful to help further describe the motor vehicle and confirm its identity.
Specific fields for describing aircraft
Enter the following mandatory fields and any other relevant information:
- Make
- Model
- Class (choose the class from the drop-down list)
- Year (of manufacture)
You must also complete at least one of the following fields: Registration mark, Manufacturer serial number. The item description is optional but can be useful to help further describe the aircraft and confirm its identity. Wherever possible, enter details in all fields.
It is critical that the correct collateral type or types are entered. You can register a financing statement under more than one collateral type. If you fail to record this information correctly your financing statements may be deemed as invalid if the registration is considered seriously misleading. If in doubt, seek legal assistance.
Using identification numbers to describe other goods
Reference Schedule 1, Clause 10 - Personal Property Securities Regulations 1999
When entering a description for goods that contains an identification number, you must also include additional data to adequately describe those goods.
An identification number is a number that is permanently marked on, or attached to, the collateral by the manufacturer. It includes only alpha numeric characters (A-Z, 0-9), but does not include punctuation (e.g. hyphen, dashes, asterisks, full stops) or other markings.
Where an identification number has non-alphanumeric characters enter the identifier on the register without the non-alphanumeric characters. e.g. A00fkf-39023SDJK-JSDFHSF98 would be entered as A00fkf39023SDJKJSDFHSF98